The Carbon advocate. [volume] (Lehighton, Pa.) 1872-1924, 1887-01-15
Readings New President Reads His Report
The Officers Elected

| The mountaineering of the stockholders of the
Philadelphia and Reading Railroad was held at
noon Monday in Association Hall PHILADELPHIA
Edward Wheeler presided and William IL. Taylor
was secretary. President Austin Corbin read
his report, according to which the gross recelpts
OF the road for the year ending Nov 80 1886, yere
S50,j27, ,403.7O. The expenses were Sl7,354.Ol 3D.
leaving a balance Of sI3,I7a,SG311. The gross
earnings ol inc Coal and Iron Company were
Hi2.S5o4ll.ih ~ The expenses were SlG.g03 4G3 G6.
THIS leaves a deficit Of sl,ll7 .G53.AG The gross
NrrlptS OF boih were SiG,i13 $3.50. and the eN-
sehulureS We're S5 34I ,50d23, leaving net receipts
ni Sl2IE6&o, 70. The JOINT earnings of the Read
ing through the Jersey Central were So IS2 IiG 70
IN ne expenses were S9S43,sO2C9, deficit of 81 :,
The cost of transportation of coal per ton has
decreased since 1879 from II cents per car per
iniie 10 IeSs l,ian one cent and during the fiscal
year the tnll ana Iron Company spent on I'M
pfuVelnentS S592, 2,Iai,93. The average price of a
Ton OF coal at the mines was - 537
lhc toailng debt of the railroad company is
s9;,o9";l q. ne current debt Is S3G30l ,G5s The
total debt Of the railroad aud Coal and Iron Com
nany Is sS3G,923' IN increase over the last fiscal
a. resolution moving the adoption Of President
Corhln report was tie occasion ofa speech from
Hl0ckholder ". II. Lockwood, He desired to
ask, ne SAID, Whether action had been taken to
mySleriouSly Of Stockholders, standing on The
nfink 9i the ruin Of their properties, i" and con
uelhheu the Withholding of Information from
them. "Are we ready" he required, TO accent
the recommendations of the president ana hoard
oI directors when general body stands Between
US" Yet tell yOu that the general u oi'tg3lee
hondhulderS can he settled Win. Certainly the
ilnle has not come for intelligent men to have
guardians appointed over their property, not To
speak OF the army of LAWYERS who will suck
raNcnous!y at everything that comes within their
ftACh and the increased cost OF recevcrship" d"
lie report was adopted rs soon as Mr.. Lock
wood had finished speaking, and then this resO-
lutloh' prepared and offered by Mr.. Lockwood
was adopted!
WHEREAS, It is the Inherit right Of all share
nOldefS, al our annual meetings, be their hold
NSS large or small, to discuss and criticiSe the
report 0f the president and hoard of managers
To the end that they may profit hy and the moral
support which shareholders educated bV full
therefore,
RESOLVED That the incoming president and
board OF managers and their successors be re-
guested 10 furnish hereafter the annual report TO
the stockholders, In printed form, 1--WE DAYS he
lore each annual meeting-to enable them TO oh
tam the necessary information in adyhnce, to
nnalyZe lntelligcntly and prepare themselves to
carry out the purpose named In the preamble to
the resolution
Tile chair then appointed John Walker, Jr
anu William Mactter to act as Judges in the elcc-
lion OF officers, The election, at which i33, ,9G3
votes were cast, resulted rs follows:
President, Austin COrbin ,-..
Managers, i. V. Williamson, John Wanainaker
a; j, Annlo, Peter c. Hollis, Samuel Il. Shipley,
Thomas Cochran.
Treasurer, William A. Church.
Secretary, William X. Taylor,